Yelp is taking off after posting a surprise profit in the second quarter
The Yelp Inc. logo is seen in their offices in Chicago, IllinoisThomson Reuters
Online review aggregator Yelp posted strong earnings Tuesday, and the stock is taking off.
The firm reported a surprise profit of $0.01 per share in adjusted terms versus analysts expectations of a loss of -$0.07 a share adjusted. Revenue also came in above expectations at $173.4 million against predictions of $169.8 million, according to Bloomberg.
Forward-looking guidance for the third quarter was $180 million to $184 million, and according to Bloomberg, estimates were for $179.7 million. Full year revenue was also projected to be $700 million to $708 million by Yelp, versus expectations of only $699.8 million by analysts.
“We had a great second quarter with local revenue growth accelerating to 41% year over year,” said Yelp CEO Jeremy Stoppelman in a release accompanying earnings.
Following the news, the stock leapt in after-ohurd trading. As of 4:34 p.m. ET, the stock was up over 8% to $35.28.
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